Foreign firms that win defence contracts will have to invest in UK under new policy – UK politics live

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Wes Streeting says overseas suppliers of defence contracts will need to spend the equivalent amount in the UKWes Streeting, the defence secretary, was on the interview round this morning, announcing a new aspect of defence procurement policy. The Ministry of Defence is now saying that, if overseas suppliers win UK defence contracts, they will be required to spend the equivalent amount in the UK.Explaining the policy, the MoD says:British workers, businesses and apprentices will benefit from major changes which will see more defence work carried out in the UK thanks to the launch of a world-leading Offsets policy.Under the new rules, overseas companies that win significant UK defence contracts will be required to invest back into Britain, through new British jobs and apprenticeships, opening UK factories, investing in domestic suppliers, transferring technology and innovation know-how.Every pound we invest in defence should be judged by what it does for Britain. That’s why we are backing British by buying British wherever we can.Even when that is not possible, we are acting to ensure that any investment brings jobs, skills and investment back home, strengthening our national security by boosting our domestic industry.The prime minister has made devolution a central focus for his government. However the UK government must ensure that any devolution proposals respect devolution in Scotland. That means working with the Scottish government.The Scottish government has put forward substantive proposals to the UK government on areas where further devolution would help grow Scotland’s economy and I will press the prime minister, and his government, to work with us to deliver those proposals. Continue reading...